India's retail inflation rises 7.44% in July
NEW DELHI :India's annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on the government to take action to bring down prices.
"The spurt in CPI inflation in July 2023 was on expected lines, however, 7.44 per cent retail inflation was totally unexpected," said Devendra Pant, economist at India Ratings. Vegetable inflation rose by a whopping 37.34 per cent after a fall of 1 per cent in the previous month. Prices of some of the most used vegetables in Indian kitchens, including tomatoes, onions, peas, brinjal, garlic and ginger, have more than doubled in the last few months.
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